Lan Airlines S.A. (LFL)

Brazilian airline Tam (TAM+5.5%) says it will delay a share-swap auction to June 22 to give shareholders more time to approve its merger with Lan Airlines (LFL-0.5%) that would create Latin America’s largest airline. The number of holdouts among Tam's minority shareholders surprises analysts, but the takeover is not likely to be derailed.

More on Argentina's takeover of YPF: The government will send a bill to Congress to take a 51% stake in the oil & gas giant for the "public good," according to an official. The move follows weeks of government pressure for the firm to spend more and pay its investors less. Shares -14%, Repsol (REPYY.PK) -1.7%.

A Chilean court rejects a complaint that opposed Brazilian airline TAM's (TAM+2%) merger with Chilean carrier LAN (LFL+1.3%), clearing the way for the country's antitrust regulator to rule on the deal which would create one of the world's biggest airlines.